South Korea
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South Korean shipbuilding company eyes September listing
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Take two on listing for online casino games developer
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South Korean steelmaker’s deal shows the potential of an ESG linked equity-linked market in Asia
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Video game developer seeks bridge loan to buy Leonardo Interactive Holdings
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Hyundai Heavy Industries Co, the world’s largest shipbuilder, is aiming to raise up to W1.18tr ($1.03bn) from its IPO, bringing yet another chunky listing to the South Korean market.
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South Korea’s stock exchange has approved Hyundai Heavy Industries Co's IPO of around W1tr ($875.4m).
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Hyundai Capital Services sold a three year bond denominated in offshore renminbi this week, raising Rmb700m ($108m) at an attractive level versus its existing dollar funding.
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Korea Midland Power Co steered its $300m bond through tough market conditions on Monday, having little option but to offer investors a premium to ensure decent secondary performance of its notes.
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HK Inno.N Corp, a South Korean pharmaceuticals company known for its popular hangover tonics, has priced its IPO at the top of the marketed range, netting W596.9bn ($520.9m).
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South Korea’s financial regulator has stepped up scrutiny of big IPOs recently, disrupting a few listings and stoking concerns about a pullback in deal flow. Investors have so far been undeterred — but it’s time they start paying attention.
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South Korean car rental company Lotte Rental has launched the roadshow for its IPO, looking for up to W850.9bn ($739.2m) in proceeds.
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Kakao Bank has defended its valuation following a W2.55tr ($2.2bn) IPO after being questioned by South Korea’s regulators about its high pricing. The internet-only bank is only the latest in the country to be targeted by authorities cracking down on lofty valuations of new listings. Jonathan Breen reports.